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Quick Invoice Processing - CDI Accounts Payable helps make your invoice processing operations more efficient. You enter only the vendor, invoice number and invoice amount for most invoices. The remaining fields are filled based on user-defined defaults. In addition, the module automatically checks for errors such as duplicate invoices and payments.
The system processes all types of invoices including prepaid, recurring, reversing and miscellaneous credit memos. Special features answer specific processing needs related to different types of invoices. For example, invoices and credit memos can be processed from the same screen.
User Batch Control To Ensure Data Integrity - Each user is assigned an unlimited number of work areas, or batches, and each batch contains a group of vendor invoices. Various controls exist around the batches to prevent inadvertent processing of incomplete work and to safeguard user accountability. All transactions carry the user’s’ name throughout the accounting system. This allows for detailed tracking, as the origin of an entry is always known, and it serves to highlight problem areas.
Flexible Payment Processing - With CDI Accounts Payable, you can simply pay all invoices or opt to pay by specific invoice, due date, vendor or range of vendors, profit center or priority code.
The module allows flexible scheduling for invoice payment. During invoice entry, you can define an unlimited number of payment dates for each invoice. You are also able to change the invoice pay date or issue a partial payment.
Multiple Check Preparation Options - You have the flexibility to maximize vendor discounts and leverage bank float. You may prepare and print checks whenever you want, and checks can be processed against multiple bank accounts. For added flexibility, CDI Accounts Payable handles a full range of payment types including automatic checks, manual checks and inter-company netting.
Check printing is simplified because built-in options handle specialized check requirements. And flexible check printing routines let you reprint a batch or a selected range of checks when necessary. The system protects you by automatically voiding the original set of checks and by creating a complete listing of all the check numbers used.
Fast Check Reconciliation - CDI Accounts Payable has a full-featured check reconciliation capability that accepts files from your bank. A file of checks that have cleared the bank is matched against check history to provide an automatically reconciled status by the system. In addition, the software allows you to reconcile bank accounts by check range, so you may clear large quantities of checks with minimal keying.
Automatic Void Check Processing - You may void posted checks using one of two methods: Void the check with automatic journal entries while recreating the open invoice for payment on a subsequent check run, or void the check and reverse the invoice out of the system entirely with full audit trails.
Support For Multiple Currency Accounting - Users define the currency and then enter the amount exactly as it appears on the invoice in the foreign currency. When the system posts, it does so in your native, or base, currency. The currency conversion is automatic, based on daily exchange rates. When you need to cut a check, you can do so in your choice of language and currency.
Multiple Profit Center Automation - CDI Accounts Payable provides the comprehensive accounting functionality that multiple profit center companies require to track costs and profitability. For example, each profit center is allocated its portion of the liability for a single invoice while automatic journal entries keep each profit center’s ledger in balance.
User-defined location codes let you print payables listings and aging reports by individual profit center or consolidated by vendor. And CDI’s flexible payment processing lets you pay invoices for one or all profit centers, and for one or all vendors. You also have the added flexibility to choose centralized cash management or remote cash management.
"CDI Accounts Payable" is part of the CDI Financial Control System line of products, developed by Tecsys.